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Open Bank Project

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Video and slides synchronized, mp3 and slide download available at URL http://bit.ly/1qgj6Qi. …

Video and slides synchronized, mp3 and slide download available at URL http://bit.ly/1qgj6Qi.

Simon Redfern presents how the Open Bank Project innovates by leveraging open APIs, open source and open data, making banking data more accessible via an ecosystem of apps and services. Filmed at qconlondon.com.

Simon Redfern is the CEO of TESOBE and founder of the Open Bank Project. He is a seasoned technologist with over 25 years experience in IT. He studied electronic engineering in Manchester in the early 80's focusing on real-time programming and digital systems, followed by relational databases and then the web in the early 90's.

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  • 1. InfoQ.com: News & Community Site • 750,000 unique visitors/month • Published in 4 languages (English, Chinese, Japanese and Brazilian Portuguese) • Post content from our QCon conferences • News 15-20 / week • Articles 3-4 / week • Presentations (videos) 12-15 / week • Interviews 2-3 / week • Books 1 / month Watch the video with slide synchronization on InfoQ.com! http://www.infoq.com/presentations /open-bank-project
  • 2. Presented at QCon London www.qconlondon.com Purpose of QCon - to empower software development by facilitating the spread of knowledge and innovation Strategy - practitioner-driven conference designed for YOU: influencers of change and innovation in your teams - speakers and topics driving the evolution and innovation - connecting and catalyzing the influencers and innovators Highlights - attended by more than 12,000 delegates since 2007 - held in 9 cities worldwide
  • 3. Open Source API and App Store for Banks
  • 4. Bank as a platform Open innovation Ecosystem OBP API! OBP Server! Bank’s Internal IT System! Bank’s! Customers! Trusted! developers ! Bank
 ! Mobile and web applications! Common public ! interface! Bank-specific ! Connectors! OBP App Store! Bank! App Store! Developers have easy access to banking data and trusted services! Customers enjoy a much greater choice of high quality and secure services! Banks instantly offer new apps and services faster, cheaper and securely whilst retaining data control and remaining the main customer touch point! ✔ ✔ ✔ Bank’s data center / cloud!
  • 5. 91
  • 6. 78
  • 7. 40
  • 8. 25
  • 9. 25
  • 10. 2005 “corruption … hmm what about a new type of bank?” 2008 in Athens, “there’s so much corruption here”
  • 11. 2005 “corruption … hmm what about a new type of bank?” 2008 in Athens, “there’s so much corruption here” 2010
  • 12. 7 mins
  • 13. Extraction €€€€€ Inequality + Distrust + Apathy + Information Deficit Corruption Data Obfuscation
  • 14. Corruption and Fraud Europe: > €30 Billion / year Distrust in State
  • 15. Foreign Aid 4.5 Continued poverty Charities
  • 16. Financial Malpractice Distrust in Banks & Instability
  • 17. Democracy needs (Cool) capitalism which needs the right conditions: State, taxation, access to markets, competition, curbs on monopolies… 10 mins
  • 18. 1360-1375 Source: http://en.wikipedia.org/wiki/File:ICL_7561_terminal.jpg !
  • 19. Source: http://en.wikipedia.org/wiki/File:ICL_7561_terminal.jpg ! 1381!
  • 20. Linked Open Data: Richard Cyganiak (DERI, NUI Galway) and Anja Jentzsch (Freie Universität Berlin)
  • 21. API growth 1995! Why do we need a Web site?! 2000! 2010! 2015! Of course we have a Web site! Of course we have an API! Why do we need an API?! “We believe that the Open Bank Project will be appealing to developers because of the ability to build an app that can then be used by any bank or customer.”! Kristin Moyer, ResearchVice President, Banking & Investment Services, Gartner  ! Source: Hype Cycle for Open Banking, July 2013 In the future, every bank will have an API
  • 22. Paul Redfern API Connect your bank to multiple Apps => Innovation, Quality, Choice + Surprises.
  • 23. Regulator Shareholders Donors The Public Sliding scale of Privacy and Disclosure + Metadata Balance FullNames Aliases Tags Comments Account Owner
  • 24. 18 mins
  • 25. NGOs & Charities •  Financial dialogue (comments) •  Demonstrate and ensure value for money •  Engage donors & recipients •  Build trust relationships
  • 26. Governments Better value, accountability & engagement e.g. Procurement / Foreign Aid More trust -> Healthier democracies
  • 27. Companies •  Open Book Accounting (Internal / External) •  Engage with Customers & Shareholders •  Demonstrate value (e.g. Eco) policies
  • 28. Social Business “OBP offers us a tool to communicate the spirit of our company to our customers: 100% commitment to transparency and accountability”.! Felix Worth, CEO Fair-No-Poly!
  • 29. Access my account data in different interfaces! Comment and add images to transactions! Share my financial data with different groups of people!
  • 30. Individuals •  Use cool / niche interfaces (German account in Arabic, Interface for the blind) •  Choice of personal finance management systems •  Share transactions with other banks to get loan
  • 31. Access my account data in different interfaces! Comment and add images to transactions! Share my financial data with different groups of people!
  • 32. Banks •  Build Ecosystem! •  Leverage core services and data •  Improve customer experience (only 49% consumers happy *) •  Innovate on AML / KYC / Anti Fraud Source: The World Retail Banking Report, Capgemini, EFMA, 2012 !
  • 33. Regulatory Detective Bank / company teams can easily allay/confirm suspicions regarding transactions using their mobile phone! Swipe Right to flag as OK !     ! Swipe Left to flag as Suspicious!
  • 34. Ecosystem Banks can leverage the OBP API to create better customer relationships Category! Name! Description! Produced by! Accounting! Kashflow! UK Leading accounting Software for SMEs! Kashflow! Momentum! Business Analytics for SMEs! BCMLogic! PFM! Money Garden! Personal finance management solution! MoneyGarden! Data Visualisation! Money Journey! Displays financial flows on a 3D globe! Independent developers! CSR! Social Finance! Financial Transparency for Non-Profits! TESOBE! Cash Track! Financial Transparency for cash payments.! Transparency International! Customized User Experience! Speaking Bank! Banking for the visually impaired (mobile)! TESOBE! Banking Banquet! Different user interfaces according to the user’s preference (tablet)! TESOBE! Regulation! Regulatory Detective! All in one AML, KYC, Anti Fraud for mobile! TESOBE (WIP)!
  • 35. Open Source Developer friendly Trustable Value for money 26 mins
  • 36. https://github.com/OpenBankProject/OBP-API
  • 37. Bank Balance + -
  • 38. surgery_DSCN054 4.jpg
  • 39. “Lift: I like Lift's css selector forms, which are used to fill in values in a template. Scala: I'm a big fan of map, flatMap, filter, takeWhile, etc. (all the fun functions on collections) that prevent me from getting distracted and annoyed from typing the boilerplate required to do similar things in Java.”
  • 40. www.hackmakethebank.com 21st March 33 mins
  • 41. Banks are like countries
  • 42. 2013 Feb - Finovate, London March - Hack Make The Bank #1, London March - FinTech Innovation Lab Demo Day, London April - Innotribe Startup Challenge , London May - Future of Finance, London July - Wired Money, London September - OpenKnowledge Conference, Geneva October - Lloyds Innovation Jam, London October - Paypal Battlehack Hackathon, London November - FinTech Forum Dach conference, Frankfrut November - Building the Alternative Finance Movement, LondonNovember - Hack Make The Bank Hackathon #2, Paris December - API Days, Paris
  • 43. Most helpful bank
  • 44. Sorry, NDA
  • 45. 36 mins
  • 46. @simsysims! ! www.openbankproject.com! ! contact@tesobe.com!
  • 47. http://www.openbankproject.com @OpenBankProject
  • 48. @simsysims! ! www.openbankproject.com! ! contact@tesobe.com!
  • 49. Watch the video with slide synchronization on InfoQ.com! http://www.infoq.com/presentations/open- bank-project